DMG Exhibition Group Ltd acquires Riddell Exhibitions Promotions

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Wednesday 27 October 1999

DMG Exhibition Group, a division of DMGT, has today announced the purchase of Riddell Exhibition Promotions Pty Ltd, Australia's second largest show organiser, for an undisclosed sum which was less than £10 million.

The acquisition will make DMG Exhibitions Australasia's largest exhibition producer when put together with XPO, New Zealand's main exhibition organiser, which was acquired in April 1999.

The purchase is part of DMG Exhibitions' global acquisition strategy to meet its aim of becoming the world's leading event organiser in its chosen markets, in the next five years. The purchase includes 13 Shows organised by Riddell in Melbourne, Sydney, Adelaide, Perth and Brisbane.

Michael Franks, managing director of Consumer and Retail, DMG Exhibition Group, said: "With the purchase of Riddell, DMG has established a foothold in Australia. Riddell's products fit well within DMG's core business sectors and will enable us to develop further our expansion plans within specialist business sectors in Australasia."

Riddell was founded in 1958 with its flagship event The Commonwealth Bank Home Show and Garden Expo, held in Melbourne, which now attracts over 180,000 visitors a year.

Note: the net assets of the acquired shows amount to Aus $0.2 million (£0.1million).

Inquiries to:
Mark Alcock, Deputy Managing Director, DMG Exhibitions - Tel: 01737 855680
Peter Williams, Finance Director, DMGT - Tel: 0171 938 6631